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Upper Peninsula State Bank

Offering comprehensive SBA lending services, this financial institution specializes in supporting small businesses through various loan programs. With a focus on the local community, it provides tailored financing options to help entrepreneurs grow and succeed. The bank is experienced in handling SBA 7(a) loans, which are ideal for working capital, equipment purchase, or expansion projects. Its team is dedicated to guiding clients through the application process, ensuring clarity and support at every step. Located at 430 N Lincoln Rd in Escanaba, MI, the bank is committed to serving the needs of small business owners in the region. Whether you’re starting a new venture or expanding an existing one, this lender offers flexible terms and competitive rates. They understand the unique challenges faced by small businesses and aim to provide accessible funding solutions to foster economic growth in the community.

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Commercial Bank

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Question 1

What is this place and what can I find here?

Answer 1

This is a trusted SBA lender providing small business financing options, including SBA 7(a) loans, to help entrepreneurs grow and succeed in the local community.

Question 2

Do I need an appointment or can I walk in?

Answer 2

It"s recommended to schedule an appointment to ensure dedicated time with a loan officer, but walk-in consultations may also be available during business hours.

Question 3

What are the hours of operation?

Answer 3

The bank operates from 9:00 AM to 5:00 PM, Monday through Friday. Appointments outside regular hours can be arranged upon request.

Question 4

Is there a fee to use this?

Answer 4

There are no fees to visit or consult with the bank; however, loan processing and closing may involve standard SBA fees and charges.

Question 5

Who is this open to — anyone, or only residents/members?

Answer 5

This lender primarily serves small business owners in the Escanaba region, but eligibility is based on creditworthiness and business criteria, not residency alone.

Question 6

What minimum personal credit score does this bank look for in a guarantor?

Answer 6

A minimum personal credit score of 620 is generally preferred for loan qualification, though other factors are also considered.

Question 7

How long does the traditional underwriting process take from start to close?

Answer 7

The underwriting process typically takes between 2 to 4 weeks, depending on the completeness of your application and documentation.

Upper Peninsula State Bank

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